edugenwileypluscom WilleyPLUS General Information Chesko In

edugen.wileyplus.com WilleyPLUS General Information Chesko In Return to Blackboard Kimmel, Financial Accounting, 8e NEXT CALCULATOR PRINTER VERSION . BACK SSIGNMENT RESOURCES Question 1 This information relates to Oriole Company for the year 2017 CH 1 Qulz $92,460 2,484 8,280 14,352 80,040 3,312 41,400 Retained earnings, January 1, 2017 Advertising expense Review Score Review Results by Study Dividends Objective Rent expense Service revenue Utilities expense Salaries and wages expense Ater analyzing the data, prepare an income statement for the year ending December 31, 2017 Oriole Company Income Statement 2 3 4 5 6 7

Solution

Income Statement For the Year Ended December 31, 2017 Revenues Service revenue 80040 Expenses Salaries and wages expense 41400 Rent expense 14352 Advertising expense 2484 Utilities expense 3312 Total expenses 61548 Net income 18492 Retained Earnings Statement For the Year Ended December 31, 2017 Retained earnings, January 1 92460 Add: Net income 18492 110952 Less: Dividends 8280 Retained earnings, December 31 102672